¶ … Carson, V. (2012). St. George Bank staff's cash windfall. The Telegraph. 3 April 2012. Retrieved online: http://www.dailytelegraph.com.au/business/st-george-bank-staffs-cash-windfall/story-fn7ki9fd-1226317134801
In 2008, the St. George Bank merged with Westpac. In order to retain the core of seven senior executives, who were already being wooed by rivals for their expertise in currency trading and money market management, the then-CEO Paul Fegan offered retention incentives to the tune of up to $50,000. After the merger, however, the numbers changed. Over a hundred employees who had been eligible for bonuses did not receive them and, as Carson (2012) points out, "a group of staff sued the bank over the bonus and redundancy payouts." The lawsuits were settled in court, and the St. George Bank was forced to pay not just the bonuses but interest on them: a total of $3 million. According to Carson (2012), the lawsuits present a major public relations gaffe for St. George Bank, as well as revealing the importance of human resources management. Human resources management concepts and theories illuminate the need for honest and straightforward employee relations: the types of relationships cultivated between managers and employees that engender trust, loyalty, and shared values. The need for retention incentive pay can be a symbolic reflection of those values and the importance of effective management-employee relations. A $50,000 bonus might not be much to a senior executive working on money management accounts, but the gesture speaks millions. Retention is one of the most important human resources strategies used by managers, along with recruitment and relocation of employees. The bank's fiasco may cost it far more than it imagined, when it wanted to cut corners by cutting out their promised bonus payouts.
The Carson (2012) article also points out the way the judicial system can be used to favor employees. Australian employment relations theories are often focused on labor relations, as between companies and the unions that represent groups of employees....
In 2006, production workers, earned $21.40 an hour in oil and gas extraction, $22.08 an hour in coal mining, $22.39 an hour in metal ore mining, and $18.74 an hour in nonmetallic minerals mining, compared to the private industry average of $16.76 an hour Figure 1 and Figure 2 below show the 'Average Earnings of Non-Supervisory Workers in 2006 and Median Hourly Mining of the Largest Occupations in Mining, May
There is also a lack of healthcare facilities capable of doing the screenings in many small, rural Kentucky communities, which is another barrier for many miners. Health professionals need to become more involved in information and screening information. They need to stress the importance of early screening and regular screening, and they need to create educational resources for the miners, so they can take steps to avoid black lung. Health
" President Truman did not deal with the UMWA because he had a love for labor, either. He feared that a prolonged strike would hurt a nation recovering from World War II, and so, he signed the fund into action with the union president. The UMWA was crucial in settling the strike and getting benefits for the miners and at the heart of the organization was its president, John L. Lewis. Lewis
In other words, the finances of a deficit country were constrained because they did not have enough gold to go around, while a country with a surplus did not face those issues. In addition, usually the weight of modification falls on these weaker countries, which is another flaw in the gold standard. Because the weaker countries could not react quickly enough to economic problems, they had less capital to
Another historian notes, "Economically, baby boomers experienced unprecedented national affluence throughout their childhood. During the 1950s and 1960s, the U.S. economy expanded greatly, raising the living standards of most American families" (Clydesdale 606). Religion played less of a role in society by the 1990s, as church attendance and membership began to decline in the 60s. Historian Clydesdale continues, "When the cultural challenges of the 1960's disestablished this religious ethos,
" The prominence of this type of mining method is underlined by a study prepared for the Governor of West Virginia which states that, "Mountaintop removal methods are essential to maintain the state's present level of coal production. The lower production costs of MTR have contributed significantly to maintaining West Virginia as a competitive coal producer." 3. Environmental impact of coal mining in the Appalachians. 3.1. Underground mining The earliest coal mining in Appalachia consisted
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